InfraCap MLP ETF

AMZA

Market cap $376M

During the quarter, InfraCap MLP ETF returned -6.79% at net asset value. This compares to a return of -4.65% for the Benchmark Index. The Fund paid a monthly dividend of $0.29 per share for the last three distributions. NAV per share at quarter-end was $43.23 and the Fund's 30-day SEC yield 1 was 8.21%. During the quarter, we utilized proceeds to reallocate towards higher conviction names and took advantage of positive relative performance, while maintaining appropriate diversification.

Generating $10,000 monthly is a major milestone, and this means you're making double the median annual salary in the U.S.

NEW YORK--(BUSINESS WIRE)--InfraCap MLP ETF (NYSE Arca: AMZA or the “Fund”) has modified the estimate of its deferred tax liability based on the continued assessment of the tax impact of its Master Limited Partnerships (MLPs) and will record an additional accrual of approximately $4 million (approximately $0.41 per share) into the net asset value of the Fund on September 19, 2025. The Fund continues to rely primarily on information provided by the MLPs, which is largely reported on a delayed ba.

NEW YORK--(BUSINESS WIRE)--InfraCap MLP ETF (NYSE Arca: AMZA or the “Fund”) has modified the estimate of its deferred tax liability based on the continued assessment of the tax impact of its Master Limited Partnerships (MLPs) and has recorded an additional accrual of approximately $5 million (approximately $0.54 per share) into the net asset value of the Fund on September 4, 2025.

NEW YORK--(BUSINESS WIRE)--InfraCap MLP ETF (NYSE Arca: AMZA or the “Fund”) has modified the estimate of its deferred tax liability based on the continued assessment of the tax impact of its Master Limited Partnerships (MLPs) and will record an additional accrual of approximately $5 million (approximately $0.14 per share) into the net asset value of the Fund on August 7, 2025. The Fund continues to rely primarily on information provided by the MLPs, which is largely reported on a delayed basis.

AMZA's active income-oriented approach has delivered notable outperformance versus several passive MLP benchmarks through the macro rollercoaster of the last five years. For the five-year period ending 7/22/2025, AMZA delivered a cumulative total return of 285%, outperforming the Alerian MLP Index and the S&P MLP Index by over 40 percentage points. The Fund's approach to security selection and weighting help AMZA produce compelling returns.

CEO and CIO of Infrastructure Capital Advisors, Jay Hatfield, on being bullish all year, now more neutral on the markets. Bearish on Tesla due to high valuation and core business pressures, but bullish on Amazon and Broadcom for their reasonable valuations and growth prospects.

Master limited partnerships (MLPs) are widely recognized as a go-to vehicle for income-focused investors. AMZA is an actively managed ETF designed to combine the income-generating power of MLPs with a more investor-friendly, liquid wrapper. The quarter-end performance data show what we believe to be a commendable track record for AMZA, particularly when viewed through the lens of a volatile macro environment.

AMZA's 8.5% yield, supported by underlying long-term take-or-pay midstream oil & gas transportation agreements, makes it an attractive buy after a 13% drop post-Trump tariff announcement. The ETF's top-10 holdings dominate the portfolio, with LP's like MPLX  Energy Transfer contributing to its concentrated high-yield structure. AMZA is structured as a dividend-paying C-corp. That avoids the complexities of MLP K-1 forms, making it more appealing for some income-oriented energy investors.

NEW YORK--(BUSINESS WIRE)--InfraCap MLP ETF (NYSE Arca: AMZA or the “Fund”) has modified the estimate of its deferred tax liability based on information reported by the Master Limited Partnerships (MLPs) and will record an additional accrual of approximately $5 million (approximately $0.53 per share) into the net asset value of the Fund on April 30, 2025. The Fund continues to rely primarily on information provided by the MLPs, which is largely reported on a delayed basis and is not necessarily.